Amazon’s holiday profits soared thanks to Black Friday and Cyber Monday

This post is by Shannon Liao from The Verge - All Posts

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Amazon continues to make loads of money, and last holiday quarter was no different. The company’s fourth-quarter earnings exceeded investor expectations with profit of just over $3 billion on sales of $72.4 billion, a 20 percent increase year-over-year revenue. For Amazon, 2018 was a year of immense growth, and the tech giant capped it off with huge sales from Black Friday, Cyber Monday, and general holiday promotions that lasted through December.

Amazon gave scarce details on which products sold the best, but it did say the last three months were the best holiday season for Echo devices it’s ever had, and that its smart doorbell subsidiary Ring also enjoyed its best quarter ever. As per usual, most of the profits came from the North…

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